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Existing home inventories fell further in December by 170,000 units, another positive data point for the housing market that falls in-line with our second Q1 2013 Global Macro Theme of #HousingsHammer. Don’t let the 1% month-over-month decline in existing home sales we saw print this morning get to you; the housing recovery is still underway and in full effect. It's worth noting that this morning's decline in inventory can act as a catalyst for driving home prices higher in the coming year.

HOUSING: Inventory Falls Lower - inventory 2